Escolar Documentos
Profissional Documentos
Cultura Documentos
Entrepreneurial Market
team opportunity
External / Internal
resources
Lean
startup
Gazelles Tigers
entrepreneurship and change
Ability and attitude to
Ants Dinosaurs
Connections Abilities
Whom do I know, Who am I?
who knows Competenecies
me? What do I know?
Startup Roadmap © J. Vecsenyi, 2014. 13
Before you start your business, make your list….
Pros Cons
+
Market + there is repeatable, growing buying
opportunity potential and
+
+ capable to create profit
Business
+ socially acceptable
opportunity
+ worth to start a new venture on it
VALUE
PROPOSITION
NEED
Competence
WHY
Would anyone
Accountancy use it? Accounting
competence services
Startup Roadmap © J. Vecsenyi, 2014. 20
Opportunity driven entrepreneurship
Recognized need looks for solution
Unsatisfaction
Frames for the paintings
Shortage, Invention
idea
problem
New need
Competence
Hidden need
Cordon for the qeue
Startup Roadmap © J. Vecsenyi, 2014. 21
The innovative idea
• New combination (different, better, different way on
the target market)
• Innovation= invention * commercialization
5 + 1 forms of innovation of
1. new goods
2. new methods of production
3. the opening of new markets
4. the conquest of new sources of
supply
5. the carrying out of a new
organization of any industry
( Joseph Schumpeter)
Startups can be
launched in all
industries
Startup Roadmap © J. Vecsenyi, 2014. 24
Sources of ideas for new ventures:
Value
Market need
proposition
Solution, offer
WHY?
WHAT?
Market Value
needs proposition
Entrepreneurial
WITH WHOM?
Opereations
Entrepreneurial
HOW?
team
Operations
team
Business model
FROM WHAT?
HOW MUCH?
Financial model
HOW MUCH?
FOR WHAT?
Business model Financial model
Solution,
WHY?
WHAT?
offer
Uniquness
Entrepreneurial
WITH WHOM?
competencies conditions people partners,
Operations
HOW?
CSFs suppliers
team
CORE FUNCTIONS, FOUNDERS/OWNERS/
COMPETENCIES OWNER MANAGERS
Business model
Financing
HOW MUCH?
Financial model
HOW MUCH?
vision and channels needs sources and
FOR WHAT?
values methods
Will we have
product?
Will we have revenue?
3. OPERATION 4.TEAM
Will we have
the right
people?
How much will it
cost?
Psycho-social benefits
Customers’ sought from any
Emotional
Values benefits company
Functional benefits
Functional benefits sought from any
company
According to B2C
decison making
B2B
B2A
According to Segments:
Groups with
behavior Which is the
similar behavior ideal spaghetti
sauce?
pattern
According to Target group:
desirability the desirable and
reachable segments
Startup Roadmap © J. Vecsenyi, 2014. 38
Who would be our customers?
Buyer (Distributor) Customer Consumer / end user
who purchases it who buys it who eats it
Paying customer
Free user
Seller
Startup Roadmap © J. Vecsenyi, 2014. 39
Getting to know your customer
Who would make purchase decision? Focus on target market,
Who: segments: the industry, location, buying behavior, direct and
indirect competitors, customer profile
Exactly what are you selling from your perspective? Factors that
What:
you try to sell and you should emphasize
Same
WHAT?
New Special
Price/
Price value
High
end
Low
end Mass Medium Premium
Quality/
Value
Startup Roadmap © J. Vecsenyi, 2014. 46
3. What are the preconditions and what would be your core and
distinctive competencies to start and operate?
SAME
AS OTHERS
COMPETETIVE COMPETENCIES to
provide competetive advantages
HOW? BETTER,
THAN OTHERS
DIFFERENT
THAN OTHERS
Development
Production / operations
Marketing and sales
Financial management
Leadership and business administration
Info-communication management
FOUNDERS/OWNERS/
OWNER MANAGERS
The story
What are we doing for whom and why would anyone pay?
Evaluate
S Define market Create market
segments on set
Segmenting for the business segments
criteria
Evaluate the
T Selecting target
attractiveness of
Construct
market segment profile
Targeting the segments
P Develop
positioning
Develop and
implement
Review
Positioning performance
strategy marketing mix
Financing Financing
needs sources and
methods
COST STRUCTURE
• Seed money
• Operational expenses
• Personal expenses
• Safety reserve
Founder 3Fs
(Family, Fiends,
Bootstrapping Fools)
Private Business
investors Angels
Venture
Crowdfunding
Capital
Governamental
Bank loan
support
1. Would it be marketable?
2. Would it be competitive?
3. Would it be feasible?
4. Would it be profitable?
5. Would you and your team be
competent and committed?
Marketable Comptetitive
RISK MANAGEMENT
Startup Roadmap © J. Vecsenyi, 2014. 71
Startup decision analysis
1. 2. 3. 4.
Know yourself and Strengthen your Cooperate with Learn from your
build on that strengths others! past!
Entrepreneur-entrepreneur Entrepreneur-manager
– Working on her/his business – Working in her/his business
– Oversees chaos – Makes order in chaos
– Likes to create business – Likes to operate business
Entrepreneur- expert
– Working in her/his business
– Executes things
Source: M. E. Gerber:
– Likes to deliver product The E Myth Revisited.
Startup Roadmap © J. Vecsenyi, 2014.
1995 78
Whom do you need for your technology start-up?
Hackers
(experts in
technology)
Hustlers Hipsters
(great in sales and (good in business
marketing) and management)
Startup is teamwork!
COO CTO
CMO - Marketing
- Organization design
management
- IT systems
- Design
- Sourcing
- Sales management
- Logistics
Startup Roadmap © J. Vecsenyi, 2014. 81
The role of the board of directors
Source: http://www.innecs.com/html/Product%20development.html
Startup Roadmap © J. Vecsenyi, 2014. 85
How can we create value faster and better?
LEAN STARTUP
ACCELERATING MARKET PENETRATION
Startup Roadmap © J. Vecsenyi, 2014. 86
Startup Roadmap © J. Vecsenyi, 2014. 87
The lean startup methodology for product
development
• Learn from users • Coding
• Find conclusions • Designing
• Generate new Ideas • Prototype /
ideas Product building
Learn Build
Data Product
• Financing
Obtaining the missing resources
Growth capital
for expansion
Startup capital
for quick start
Seed capital
for development
Money Realistic?
Enough? Profit
Minimum Price
Variable
cost
Fix cost
Fix
cost
Founder(s) 3F
(Family,
Bootstrapping Fiends, Fools)
Private Business
investors Angels
Venture
Crowdfunding
Capital
Governmental
Bank loan
support
Valley of Source:
Death
Startup Roadmap © J. Vecsenyi, 2014. 103
Return
1. What is the
problem/ need?
Startup Roadmap © J. Vecsenyi, 2014. 106
Preparation for the elevator pitch
Idea
Self confident
Planned
Concious
Convincing, For the founders, Execution
Detailed
Detailed
credible investors planning with
document Business plan BUSINESS PLAN
toolkit
109
Startup Roadmap © J. Vecsenyi, 2014.
A business plan for a new venture is
… a convincing and credible document for starting and financing
a new venture to prove that in the next 2-3 years the new venture
with its products and services
on the target market
with the entrepreneurial team
can make profit
and manage risk
…prepared
for and by the founders to make a conscious decision on
starting a new venture
for the investor to convince financing institutions or
private investors
Convincing Credible
when it proves when the founder
to the founder that to Analyzed the market and
start the business is industry
rewarding and possible Planned actions to market
entry
to the investor that Defined and designed products
financing the new and services
business is rewarding Designed operational
and safe conditions of the business
Identified the necessary staff
Calculated the profit making
potential
Calculated risks and risk
management tools
Startup Roadmap © J. Vecsenyi, 2014. 111
Content of a business plan
1. Cover sheet
2. Executive summary
3. Introducing the business
4. Industry, market, competitor analysis
5. Product /service
6. Marketing plan
7. Operational plan
8. People and organization
9. Financial and financing plan
10. Risks and risk management
11. Attachments
Financing
Income statement
Beginning Closing
balance Balance
sheet Sheet
Name
Licences
selection
Legal Technical, organizational, human
form Patents
Core activities Sales strategy
and products and force
Business conditions People Investment
Tax Organization Site, office
Insurance
regulations
Bank Accounting
selection Accountant
Experts
Advisors
Startup Roadmap © J. Vecsenyi, 2014.
116
How do we start selling?
MARKET ENTRY